What is the impact of the entry of another producer

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Reference no: EM13854836

Two questions:

1. How can two oligopolists try to avoid being caught in a competitive outcome? which are relevant for the iron ore industry

2. There are only 2 firms in the iron ore industry. Assume each firm is free to set its production level but each firm can communicate what they plan to do first. What is the impact of the entry of another producer(RT)

Reference no: EM13854836

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